Robert Kiyosaki, the author of the popular investment book “Rich Dad, Poor Dad” has advised people to buy Bitcoin in order to be safe from the imminent collapse of the US Dollar. Kiyosaki, whose message is contained in a tweet also included precious metals like gold and silver as safe havens for investors in these trying times.
There have been projections of a bleak future for fiat currency, especially the US Dollar. The reasons for this are not difficult to decipher, considering the fact that an increased volume of the paper currency is being introduced into society. The case could have been different if currencies were printed and introduced for trade and investment purposes. Rather, it is happening to aid the economic relief being offered to the people during the rampaging Covid-19 pandemic.
What Will Happen to Fiat After Covid-19?
As the people receive these monies, the bulk of which will go to the purchase of food and other consumables, the question of what becomes of the economy after the pandemic becomes more obvious. This is a war situation, and history has taught us a few lessons of what to expect afterwards. Perhaps this is time to prepare for a future that we already know.
In his tweet, Kiyosaki identified two asset categories to look forward to for safety. The first category includes gold, which many people refer to as “god’s money” while the second category includes “the people’s money”, Bitcoin. He tweeted;
DEATH OF DOLLAR. People desperate for money. Very sad. If government gives you free money take it yet spend it wisely. DO NOT SAVE. Buy gold, silver, Bitcoin. Dollar is dying. Silver $20. Best Buy for future security. Everyone can afford $20, especially with free fake money.
— therealkiyosaki (@theRealKiyosaki) April 4, 2020
Kiyosaki was firm on his opinion of an impending death of the US Dollar. However, he advised the public, especially those receiving the government cash intervention to save for the rainy day. His asset destination for this saving exercise include Gold, Silver and Bitcoin.
Bitcoin is Already Adjusting for the Future
In a previous post on Coinstituency, we explained how Bitcoin is repositioning itself for a future of greater value. Incidentally, this is the same future that isn’t looking very promising for the dollar and other fiat currencies across the world. With Bitcoin reward halving around the corner, and many institutional traders scampering for safety, the sail points only to one direction.
“Rich Dad, Poor Dad” is an investment bestseller that is popular among middle-aged investors in the 21st century. The efficacy of the facts contained in this book has received popular approval over time, and surely this will have an effect on how Kiyosaki’s followers respond to investment advice from him. He surely isn’t a rookie in the field either.
The entire world is currently shaken by the Covid-19 pandemic. The primary goal of every nation at the moment is how to stop the spread of the CoronaVirus. Many countries are breaking bank and going beyond boundaries in order to fight the rampaging disease. The ultimate hope is that this disease will be conquered in the long run. Therefore it is only proper to think of what happens after all this is done with. There is no other time to secure the future than now.
Iyke Aru is a seasoned author and educator in the blockchain and cryptocurrency industry. He has been in the business of crypto content writing for many years with thousands of his articles across several platforms on the internet. Iyke is based in Nigeria where he stands out as one of the most informed and credible figures in the cryptocurrency industry. Outside blockchain and crypto, you will most likely catch Iyke playing or discussing football with friends and family.